Thursday, July 27, 2006

Dollar continues under pressure.....

Looking at the markets this moring I see a continuation from yesterdays close. The dollar is under alot of pressure and I believe it is because the market perseves the FED will be on hold. This I agree with. I wrote yesterday that I liked Eur/Jpy to take out the 147.91 high and so far this trade has proven costly. I am watching 146.75 level for a stop (soft stop). This shift in the FED outlook should benifit Emerging Market currencies. Usd/Brl,Ars,Mxn have all been trading lower of late and I continue to see this as the bigger picture trade.

These are the FX Trading Ideas for Today.



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